June 18, 2018

Canada taking US NAFTA threat seriously, seeks to end…

13 January 2018, 03:57 | Taylor George

President Donald Trump speaks at the American Farm Bureau Federation annual convention on Jan. 8

President Donald Trump speaks at the American Farm Bureau Federation annual convention on Jan. 8

"The reality is that the USA courts are not going to support any allegation made by Canada or Mexico, they are going to support the American businesses community", Dias said.

A USA withdrawal from NAFTA would not signal the end of cross-border trade, but there's little question the imposition of new tariffs would make business more expensive in both countries - though it's not clear by how much, Dekker said.

The White House was quick to deny it.

Justin Trudeau's "progressive" trade agenda - the insistence on including gender parity and Aboriginal issues in trade negotiations with the United States - is being cited as a barrier to progress by senior figures in the USA administration, according to people familiar with the matter.

Royal Bank of Canada's Chief Executive Dave McKay said on Tuesday he believed there was now a greater chance that NAFTA could be scrapped.

The president also expressed support for the expansion of high-speed internet in rural America.

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The two other sources, who are involved in the trade talks and asked not to be named, said that Mexico remains firm on its position to get up and leave from the negotiating table if Trump goes through with the move.

Saskatchewan's economy is heavily dependent on trade, especially with the U.S. In 2016, the province's total exports to the U.S. totalled $12.8 billion - 47 per cent of all exports. "I think it would be especially bad for this region because we're so closely integrated into the USA economy", said Anderson.

Trump's proudest boast is the performance of the S&P 500 and the Dow Jones index since he became president. "They have an election coming up fairly shortly". John Boozman (R-Arkansas) said.

Trump also this week repeated his claims that the U.S.

And the departure would not be immediate - Trump would have to wait a required period of six months after giving notice of withdrawal before the United States would actually be able to do so - potentially causing months of economic uncertainty for some of Trump's most ardent supporters in rural areas during an election year which already presents an uphill climb for Republicans. The trade agreement renegotiations will enter its sixth round of talks. At stake is a relationship between the three nations whose annual trade in goods totals about $1 trillion - and even the business models of companies such as Ford Motor Co. and General Motors Co. that have adapted their supply chains to take advantage of the trade zone.

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